Barnes Group Cuts Full-year Adjusted Earnings Guidance; Stock Down In Pre-market - Update

(RTTNews) - (Adds Outlook, Share movement)

For the full year, Barnes Group Inc. (B) has lowered its adjusted earnings guidance.

The company now expects earnings excluding one-time items of $1.55 to $1.75 versus the previous outlook of $1.62 to $1.82.

Analysts, on average, expect the firm to earn $1.72 per share, for the year.

Annual net loss per share is expected to be in the range of $0.36 to $0.16, for the year.

Full-year sales growth is projected to be in the range of 10 percent to 12 percent.

Barnes was trading down 8.57 percent at $38.50 in the pre-market trade on the New York Stock Exchange.

Q2 Results:

Below are the earnings highlights for Barnes Group Inc (B):

Earnings: -$46.821 million in Q2 vs. $17.352 million in the same period last year. EPS: -$0.91 in Q2 vs. $0.34 in the same period last year. Excluding items, Barnes Group Inc reported adjusted earnings of $0.37 per share for the period.

Analysts projected $0.4 per share Revenue: $382.232 million in Q2 vs. $338.984 million in the same period last year.